Tech company Aave, specialized n the development of decentralized and hybrid blockchain applications, has launched Aave Lending SaaS solution for the collateralization of loans.
The company has also signed its first client, Cashare, the largest peer-to-peer crowdlending platform in Switzerland with over 10 years of experience in the online lending space.
Aave Lending is the first turn-key solution in the blockchain space for creditors and borrowers to conduct loan transactions efficiently.
By keeping core functions, like storing and managing collateral on the blockchain, operational costs are kept low, while the transactional speed remains high. The software’s pilot product ETHLend, has generated over $15 million in lending volume since its launch.
Aave CEO Stani Kulechov said: “ETHLend pioneered decentralized p2p lending with its initial platform, and with Aave, we’re working to expand that vision into digital asset-backed lending for both businesses and individuals.
“Partnering with Cashare is a great first step for Aave Lending, as they’re one of the biggest p2p lending platforms. By integrating with Aave Lending, Cashare’s customers will now be able to use their digital assets as collateral for loans.”
Aave Lending’s technology is currently available for all creditors, enabling them to access the new digital asset class made up of companies and individuals, who wish to leverage their digital assets for loans. The solution is easy to implement within any existing lending businesses, making it scalable across the global market.
Cashare CEO and co-founder Michael Borter said: “No global service combines the fiat-based world of lending with that of cryptocurrency. With Aave, we can offer a more innovative solution.
“By providing digital asset-backed lending in addition to fiat loans, we’re able to offer investors the ability to participate in the crypto industry with an attractive return while maintaining a high level of security since all loans are asset backed. ”
Aave is a Swiss-based technology company founded in 2017 by Stani Kulechov, focused on empowering people through innovation across all industries through the development of decentralized and hybrid blockchain applications.
Aave has an extensive list of products that range from ambient accounts, lending software, custody and payments services to blockchain-based games and developer tools. The team behind this technology-based venture is a multicultural group of creatives who hold transparency, security, and trust at their core.
Headquartered in Hünenberg in the canton of Zug, Cashare, founded in 2008, is a leader and pioneer in the crowdlending space, and the first and biggest crowdlending platform in Switzerland. The company offers a next level platform for peer-to-peer loans eliminating detours via a bank and offering attractive options for borrowers and investors.
Source: Company Press Release